The Great Reset – Richard Florida

Aug. 20, 2010 – Subtitled: How New Ways of Living and Working Drive Post-Crash Prosperity. A very timely book! Author Richard Florida does an outstanding job of giving historical context to the resets that occurred after the economic crises of 1873 & 1929. We are in another period of tectonic change as we shift our focus to an economy based on ideas, creativity and knowledge workers. Of particular interest to me was his challenge to the cultural mythology of home ownership in Chapter 22. He blows apart widely held assumptions about the benefits to our economy and to individual wealth in owning a home. His research, a hallmark of his previous books as well, pulls together data that is compelling and convincing. He argues against more investment of capital into outdated industries and institutions, and promotes a shift to investment in needed infrastructure (such as a light rail system) and a complete overhaul of our educational system. I think it’s a “must read.” We need to change our mindset in order to create our future. We sacrifice what we need for that future success when we invest in propping up the past.